VTMGX vs. VXUS

Last updated Jun 23, 2026

VTMGX (Vanguard Developed Markets Index Fund Admiral Shares) and VXUS (Vanguard Total International Stock ETF) are both funds - VTMGX is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index, while VXUS is a Global Equities fund tracking the FTSE Global All Cap ex US Index. Both are passively managed. Over the past 10 years, VTMGX returned 10.43%/yr vs 10.57%/yr for VXUS. With a 0.97 correlation, they move nearly in lockstep. VTMGX charges 0.07%/yr vs 0.05%/yr for VXUS.

Performance

VTMGX vs. VXUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Developed Markets Index Fund Admiral Shares (VTMGX) and Vanguard Total International Stock ETF (VXUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VTMGX having a 16.49% return and VXUS slightly lower at 16.04%. Both investments have delivered pretty close results over the past 10 years, with VTMGX having a 10.43% annualized return and VXUS not far ahead at 10.57%.

VTMGX

• 1D: 1.27%
• 1M: 3.05%
• YTD: 16.49%
• 6M: 17.25%
• 1Y: 35.19%
• 3Y*: 19.24%
• 5Y*: 10.49%
• 10Y*: 10.43%

VXUS

• 1D: 0.33%
• 1M: 3.54%
• YTD: 16.04%
• 6M: 16.58%
• 1Y: 34.50%
• 3Y*: 20.13%
• 5Y*: 9.22%
• 10Y*: 10.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VTMGX vs. VXUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTMGX Vanguard Developed Markets Index Fund Admiral Shares	16.49%	35.17%	3.03%	17.65%	-15.33%	11.39%	10.25%	22.04%	-14.48%	26.39%
VXUS Vanguard Total International Stock ETF	16.04%	32.35%	5.08%	15.86%	-16.08%	8.98%	10.66%	21.75%	-14.43%	27.46%

Correlation

The correlation between VTMGX and VXUS is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jan 28, 2011	0.97

The correlation between VTMGX and VXUS has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

VTMGX vs. VXUS - Sectors Allocation Comparison

Sectors	VTMGX	VXUS
Financial Services	23.3%	21.7%
Industrials	19.2%	15.6%
Technology	13.8%	21.0%
Healthcare	8.2%	6.8%
Basic Materials	7.5%	7.6%
Consumer Cyclical	7.5%	8.2%
Consumer Defensive	5.6%	4.8%
Energy	5.4%	4.7%
Communication Services	3.4%	4.4%
Utilities	3.3%	3.0%
Real Estate	2.7%	2.4%

Return for Risk

VTMGX vs. VXUS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VTMGX

VTMGX Risk / Return Rank: 61
VTMGX Sharpe Ratio Rank: 64
VTMGX Sortino Ratio Rank: 57
VTMGX Omega Ratio Rank: 61
VTMGX Calmar Ratio Rank: 64
VTMGX Martin Ratio Rank: 60

VXUS

VXUS Risk / Return Rank: 67
VXUS Sharpe Ratio Rank: 69
VXUS Sortino Ratio Rank: 66
VXUS Omega Ratio Rank: 70
VXUS Calmar Ratio Rank: 64
VXUS Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VTMGX vs. VXUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Developed Markets Index Fund Admiral Shares (VTMGX) and Vanguard Total International Stock ETF (VXUS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VTMGX	VXUS	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.16	0.00
Sortino ratio: Return per unit of downside risk	2.91	2.92	-0.01
Omega ratio: Gain probability vs. loss probability	1.39	1.40	-0.01
Calmar ratio: Return relative to maximum drawdown	2.95	3.07	-0.12
Martin ratio: Return relative to average drawdown	11.31	11.84	-0.53

VTMGX vs. VXUS - Sharpe Ratio Comparison

The current VTMGX Sharpe Ratio is 2.16, which is comparable to the VXUS Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of VTMGX and VXUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VTMGX vs. VXUS - Drawdown Comparison

The maximum VTMGX drawdown since its inception was -60.58%, which is greater than VXUS's maximum drawdown of -35.97%. Use the drawdown chart below to compare losses from any high point for VTMGX and VXUS.

Drawdown Indicators

	VTMGX	VXUS	Difference
Max Drawdown Largest peak-to-trough decline	-60.58%	-35.97%	-24.61%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-11.27%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	-13.18%	-13.58%	+0.40%
Max Drawdown (5Y) Largest decline over 5 years	-29.71%	-29.44%	-0.27%
Max Drawdown (10Y) Largest decline over 10 years	-35.68%	-35.97%	+0.29%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-14.63%	-8.20%	-6.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	2.92%	+0.12%

Volatility

VTMGX vs. VXUS - Volatility Comparison

Vanguard Developed Markets Index Fund Admiral Shares (VTMGX) and Vanguard Total International Stock ETF (VXUS) have volatilities of 6.29% and 6.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTMGX	VXUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.29%	6.28%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	13.66%	14.10%	-0.44%
Volatility (1Y) Calculated over the trailing 1-year period	15.95%	16.08%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	16.21%	-0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.58%	17.18%	-0.60%

VTMGX vs. VXUS - Expense Ratio Comparison

VTMGX has a 0.07% expense ratio, which is higher than VXUS's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VTMGX vs. VXUS - Dividend Comparison

VTMGX's dividend yield for the trailing twelve months is around 2.49%, which matches VXUS's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTMGX Vanguard Developed Markets Index Fund Admiral Shares	2.49%	3.20%	3.34%	3.14%	2.88%	3.14%	2.02%	3.03%	3.33%	2.77%	3.06%	2.91%
VXUS Vanguard Total International Stock ETF	2.51%	3.18%	3.37%	3.24%	3.09%	3.10%	2.14%	3.06%	3.18%	2.73%	2.93%	2.83%

Frequently Asked Questions

Can I hold both VTMGX and VXUS in my portfolio?

With a correlation of 0.94, VTMGX and VXUS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VTMGX or VXUS?

VTMGX has higher volatility (6.29%) compared to VXUS (6.28%). In terms of maximum drawdown, VTMGX dropped -60.58% vs VXUS's -35.97%.

Which has better risk-adjusted returns?

VTMGX currently has the higher Sharpe Ratio (2.16 vs 2.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.